The company now expects to raise about $496 million, the people said, declining to be named as the matter is not yet public. Nexa said earlier this month that it expected to price at $18 to $21 per share.

Nexa, a unit of Brazilian diversified industrial group Votorantim SA, declined comment. (Reporting by John Tilak in Toronto and Stephen Lacey for IFR in New York; Editing by Andrew Hay)